Conditions of Extensions of Credit Sample Clauses

The "Conditions of Extensions of Credit" clause sets out the specific requirements and criteria that must be met before a lender will provide additional credit or loans to a borrower. Typically, this clause outlines prerequisites such as the borrower maintaining certain financial ratios, providing updated financial statements, or ensuring no default has occurred under the agreement. By clearly defining these conditions, the clause helps manage the lender's risk and ensures that credit is only extended when the borrower's financial situation remains stable and compliant with the agreed terms.
Conditions of Extensions of Credit. 20 5.01 Conditions Precedent to Initial Extension of Credit..............................................20 5.02 Conditions Precedent to Each Extension of Credit, Conversion or Continuation..........................20
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Conditions of Extensions of Credit. The obligation of each Lender to make Loans, and of the Issuing Banks to issue, amend, renew or extend any Letter of Credit hereunder is subject to the satisfaction of the following conditions:
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Conditions of Extensions of Credit. The obligation of the Bank to make extensions of Credit to Borr▇▇▇▇ ▇▇▇vided for hereunder shall be subject to the following conditions:
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Conditions of Extensions of Credit 
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Related to Conditions of Extensions of Credit

  • Conditions to All Extensions of Credit The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit:

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • Conditions Precedent to all Extensions of Credit The obligation of the Lender Group (or any member thereof) to make any Revolving Loans hereunder (or to extend any other credit hereunder) at any time shall be subject to the following conditions precedent: (a) the representations and warranties of each Loan Party or its Subsidiaries contained in this Agreement or in the other Loan Documents shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date of such extension of credit, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date); and (b) no Default or Event of Default shall have occurred and be continuing on the date of such extension of credit, nor shall either result from the making thereof.

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • CONDITIONS TO LOANS AND LETTERS OF CREDIT The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions.